measuring happiness

Question 1

how can happiness be measured?

Answer 1

• generosity
• GDP per capita
• social support
• freedom to make life choices
• healthy life expectancy
  -the absence of corruption

Question 2

limitations of using GDP to measure happiness/standard of living

Answer 2

no indication of:
- distribution of wealth/income
- value of unpaid work
- work-life balance
- defensive spending hurts welfare but boosts GDP
- value of free services like the digital economy
- value of non-marketed output